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Indian defence market set for 14% annual growth amid government indigenisation
The market opportunity for Indian defence companies is estimated to range between $90-100 billion over the next 5-6 years, with an annual growth rate of approximately 13% during this period.Read more
India’s Top 100 Engineering Companies
Despite a slowdown in some of the major global markets amid geo-political tensions, India's engineering exports edged up to $ 109 billion in 2023-24 (2.13 per cent more than $ 107.04 billion in 2022-23). In this edition, Smart Manufacturing & Enterprises (SME) presents India's Top 100 Engineering Companies who have out-performed their peers in FY24 and have emerged as the winners in 2024 list.Read more
Engineering growth amid the gloom
India's engineering goods exports touched $ 9.04 billion in July 2024, a rise of 3.6 per cent compared to $ 8.72 billion in July 2023, according to EEPC India.Read more
Government to launch FAME III scheme within two months
Domestic sales for three-wheelers reached 59,073 units in July 2024, marking a 5.1% year-on-year increase, while two-wheeler sales surged to 1.44 million units, reflecting a 12.5% growth. Read more
Government unlikely to ease restrictions on Chinese telecom vendors
Officials confirmed that while companies like ZTE can manufacture products in India, they must adhere to the government's "trusted sources" policy, which prohibits the deployment of non-trusted equipment in Indian networks.Read more
Government schemes to propel domestic EV manufacturing
The adoption of electric vehicles in India has surged, particularly in the two-wheeler and three-wheeler segments, following the government's decision to extend the EMPS subsidy until September 30. Read more
Sansera inks Rs 21 billion investment MoU with Karnataka government
The project is expected to create approximately 3,500 direct and indirect jobs in the region.Read more
Government to develop parks and dormitories near manufacturing clusters
Twelve industrial parks under the National Industrial Corridor Development Programme will also be sanctioned, with significant progress already in Uttar Pradesh and Tamil Nadu. Read more
ABB India funds educational programs in 148 Karnataka government schools
These initiatives, launched in 2022, have successfully raised awareness levels among students, bridging the aspiration gap in key scientific concepts. Read more
Focus on incremental reforms
According to a recent report of DSP Mutual Fund, the manufacturing sector's contribution to India's GDP is anticipated to rise from 14 per cent in FY24 to 21 per cent by FY34, bolstered by lower logistics costs and improved infrastructure. Read more